From Hong Kong to Tokyo, our guide to sought-after neighbourhoods in major cities across the region
In spite of the Covid-19 crisis, the real estate market is still doing favourably in Singapore, with large transactions that include the Haidilao family's recent record-making purchase of a Good Class Bungalow (GCB) to the bulk purchase of all 20 apartment units in Eden luxury residential development.
And prices in the city—and across Asia as a whole––are not set to decline anytime soon, with property expert Knight Frank finding that prime prices in key global cities are rising at their fastest rate since 2017. From Hong Kong to Tokyo, Bangkok, Singapore and more, we’re letting you know the most exclusive addresses in Asia.
See also: The Most Notable Property Purchases of 2021 in Singapore So Far
1. Nassim Road, Singapore
The exclusive Nassim Road area in Singapore made headlines earlier this year, when the wife of a Singapore tech founder paid $128.8 million for a GCB, a property type that is among Singapore’s most prestigious.
Historically, the prices of GCBs in Singapore can range anywhere from slightly over $15 million to S$100 million. However, on average, prices of GCBs tend to fetch about $30 million or more due to their scarcity and uniqueness. GCBs are only found in a handful of districts, with Nassim Road regarded as one of the top destinations for the properties. Dubbed the “crème de la crème” of Singapore’s residential address, Nassim Road is also known as the embassy row due to the numerous numbers of embassies setting there. The Embassy of Japan, Embassy of The Republic of Philippines and the Embassy of the Russian Federation are all located along Nassim Road.
The recent sale on Nassim Road broke Singapore's previous price-per-square-foot (PSF) record, which was set in 2019 when billionaire James Dyson paid $50 million for a home on a 15,101sqft lot on the nearby Cluny Road.
Other exclusive locations:
Belmont Park, Cluny Park, Holland Park, Ridley Park, White House Park
See also: 5 Property Trends Shaping Our Search For New Homes in 2021